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Commerzbank executes milestone trade on Marco Polo platform following integration of a logistics provider. Commerzbank and Landesbank Baden-Württemberg (LBBW) have completed another milestone trade on the Marco Polo platform. As reported Aug. 15, on this occasion, logistics provider Logwin AG was integrated into the digital process chain, digitally and in real time. Same same but differentAs with an earlier transaction, the trade took place between German supplier, KSB, and Taiwanese mechanical engineering group, Voith. Another shipment of special hydraulic couplings was delivered using blockchain technology via the Marco Polo trade finance network. However, for the first time ever this transaction included the integration of logistics provider Logwin with transport details being entered directly into the network. LBBW international trade and payment solutions head, Matthias Heuser, explained: “Now, an independent third-party — in our case the logistics provider — is able to trigger a..
Bitcoin price losses 7% in 24 hours sparking criticism from naysayers but sentiment has yet to turn bearish. Bitcoin (BTC) price was feeling the pressure Aug. 14 after a fresh downturn saw the largest cryptocurrency settle below $10,500. Market visualization. Source: Coin360 Trade war tensions relief lifts markets, sinks Bitcoin price Data from Coin360 painted a gloomy picture for investors Wednesday, with BTC/USD trailing 7.2% daily losses. Bitcoin 7-day price chart. Source: Coin360 The latest in what has become a recognized pattern in recent months, Bitcoin reversed its previous successes from the weekend, when geopolitical uncertainty and fiat currency weakness in several jurisdictions pushed markets above $12,000. In particular, it was Hong Kong and Argentina fuelling the theory, which Bitcoin critics such as gold bug Peter Schiff took the opportunity to debunk as markets fell. “Now that trade tension with China has eased, the pressure on the yuan is off. Those who bought Bit..
Australian energy technology company Power Ledger and Kansai Electric Power Co. have completed a joint trial of a blockchain-based system for post-FIT surplus power in Osaka. Australian energy technology company Power Ledger and Japanese Kansai Electric Power Co. (KEPCO) have completed a joint trial of a blockchain-based system for post-FIT (feed-in tariff) surplus power in Osaka. P2P transaction of surplus powerIn an announcement published on Aug. 12, Power Ledger revealed the test completion of a peer-to-peer system demonstrating benefits for post-FIT surplus power in the Japanese city of Osaka. The system purportedly enabled KEPCO to conduct a p2p transaction of surplus power autonomously and automatically, which included settlements with digital currency. Fumiaki Ishida, KEPCO representative general manager, commented on the development: “Although there are still many challenges like amendments of relevant laws for commercialization, Power Ledger’s product presents significant opp..
New Zealand bank ABS funds local blockchain startup to expedite global trade platform. New Zealand’s Auckland Saving Bank (ASB) has invested in local blockchain startup TradeWindow. The funding, reported Aug. 13, should expedite the launch of the company’s Distributed Ledger Technology (DLT) trade platform. Applying blockchain to the global supply chainTradeWindow CEO, AJ Smith, believes that this link-up represents one of the first times a New Zealand bank has directly invested in a technology company. The company offers a host of solutions aimed at the global trade and supply chain industry. With 12,000 registered exporters in New Zealand alone, Smith says he is excited about the “major market opportunity this offers. Nigel Annett, Executive General Manager of Corporate Banking at ASB was equally effusive. "TradeWindow has the potential to truly transform the way our customers experience the international trade process. They will be able to operate more efficiently with trust and s..
U.S.-China trade war escalates, China is stepping up national crypto development, anonymous PBoC source says crypto “brings both risks and opportunities.” After a short stay in the red zone, Bitcoin (BTC) has recovered toward $12,000, with traders turning bullish as ever. Experts call the United States-China trade war a key reason for the main cryptocurrency’s price fluctuations. Fuel to the fire has been added by the recent announcement by the People's Bank of China (PBoC) of plans to get ahead of the U.S. and Facebook’s Libra by issuing a national cryptocurrency. Chinese government is set to digitize yuan, challenge U.S. and LibraAs Cointelegraph reported, the PBoC plans to focus on developing its own legal digital currency. On Aug. 2, during a video conference devoted to discussing financial tasks for the second half of 2019, heads of financial and economic institutes in China touched upon the topic of cryptocurrencies. The country’s central bank announced its intention to acc..
Grayscale suggests that Bitcoin is a hedge against economic turmoil, using the US-China trade war as a case study. Grayscale Investments, a digital assets investment firm that offers Bitcoin (BTC) trust shares, has published a case study on how BTC could be used as a hedge against financial instability. The firm used the case of trade tensions between the United States and China to make their point. Grayscale Investments linked to its study in an official blog post on Aug. 8. According to Grayscale’s analysis, they believe that BTC’s store of value potential, its spending characteristics and its potential for growth with new technology poise the original cryptocurrency as an asset that is uniquely suited to strong performance during both normal economic cycles and liquidity crises. As a result, Grayscale advises in the report that BTC is a beneficial asset to have in many long-term investment portfolios: "With continued adoption, Bitcoin represents a transparent, immutable, and global..
Crypto exchange VC Trade has integrated an AML compliance technology developed by Taiwanese digital currency hardware wallet company CoolBitX. Japanese cryptocurrency exchange VC Trade has integrated an anti-money laundering (AML) compliance technology developed by Taiwanese digital currency hardware wallet company CoolBitX. As Japanese finance-focused news outlet Blocktempo reported on Aug. 8, VC Trade — a crypto exchange founded by Japanese financial giant SBI Holdings last June — has adopted CoolBitX’s Sygna, a know-your customer (KYC) and AML compliance technology focused on digital currency transactions. CoolBitX’s founder and CEO Michael Ou ostensibly explained that the Sygna system allows users to withdraw assets to their wallets through a KYC multi-level checkpoint. If one of the parties participating in the transaction is unable to pass the certification, the system will reject it. VC Trade is a Japan Financial Services Agency (FSA)-regulated crypto exchange, which now expec..
Bitcoin News Today – Bitcoin price had an upsurge up to $12,000 but ripple price failed to increase value against the US Dollar. The XRP/USD pair appears to be developing firm support above the $0.4550 and $0.4580 levels. It is also steady above the 23.6% Fib retracement level of the downward move from the $0.5086 high to $0.4455 low. Bitcoin (BTC) Price Today – BTC / USD Name PriceBitcoin$11,686.00-0.02% In the last couple of hours, the world’s largest cryptocurrency surged past the $12,000 resistance, rising by over 4% in 2 hours. This movement came as an opening for traders to create capital from their digital assets. Many transactions were hence noted among a few wallets too. Bitcoin News Today – XRP Price Prediction 2019 – XRP Latest Update – Ripple’s Price Prediction – XRP vs USD Currently, the bulls are trying a considerable close above yesterday’s bearish trend line with resistance near $0.4700 on the hourly chart of the XRP/USD pair. If this happens, the price could..
Iran’s government released a new law that does not accept crypto as legal tender or recognize transactions carried out with cryptocurrency. The Iranian government has instituted a new law that does not accept crypto as legal tender or recognize domestic transactions carried out with cryptocurrencies. On Aug. 4, the Cabinet of Iran ratified and released a new bill saying that the government will not recognize any domestic trading activity involving cryptos, Iranian news agency PressTV reports today. Per the report, the new bill says that the government and the banking system will not view digital coins as legal tender, and Iran’s central bank will not guarantee their value. The new bill follows comments from the deputy governor of Iran’s central bank, who in July announced that buying and selling cryptocurrencies like Bitcoin (BTC) was illegal. Mining allowed albeit with heavy permitting scheme Iran had previously authorized cryptocurrency mining as an industrial activity within a sp..
Bitcoin consolidates around $10,500, while U.S. stock markets drop amid trade war fears. Friday, Aug. 2 — Bitcoin (BTC) consolidated at around $10,500, while the top 20 coins by market cap are seeing mixed signals. 13 out of 20 top cryptos by market cap are seeing green at press time, with Texos (XTZ) recording the biggest gains in the list, up more than 6%, according to CoinMarketCap. On the other hand, Litecoin (LTC), the fourth biggest crypto, dropped the most, down more than 4% over the past 24 hours. Market visualization from Coin360 Following a recent bullish move, Bitcoin continued to fluctuate at around $10,400 today, while its intraday high amounted to $10,654. At press time, the biggest cryptocurrency by market cap is up nearly 4% over the past 24 hours to trade at $10,478. Over the past 7 days, BTC is up around 6.5%. Bitcoin 7-day price chart. Source: Coin360 Ether (ETH), the second cryptocurrency by market cap, is up 1.1% to trade at $218. Over the past 7 days, Ether’s p..